Impax Asset Management Group plc Cuts Holdings in Cardinal Health, Inc. $CAH

Impax Asset Management Group plc decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,688 shares of the company’s stock after selling 8,566 shares during the period. Impax Asset Management Group plc’s holdings in Cardinal Health were worth $7,004,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 75 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health in the 1st quarter worth about $26,000. NewSquare Capital LLC lifted its stake in Cardinal Health by 100.0% during the 2nd quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after acquiring an additional 107 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAH. Robert W. Baird set a $232.00 price objective on shares of Cardinal Health in a research report on Friday, October 31st. Argus increased their price target on Cardinal Health from $189.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. UBS Group upped their price objective on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Leerink Partners raised their target price on Cardinal Health from $187.00 to $211.00 in a research report on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $205.00.

Cardinal Health Stock Performance

Shares of CAH stock opened at $205.94 on Friday. The stock has a fifty day simple moving average of $164.46 and a two-hundred day simple moving average of $158.49. The firm has a market capitalization of $48.93 billion, a PE ratio of 31.93, a PEG ratio of 1.39 and a beta of 0.72. Cardinal Health, Inc. has a 52-week low of $114.60 and a 52-week high of $207.47.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm had revenue of $64.01 billion during the quarter, compared to analyst estimates of $59.41 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 30.77%.

Insider Activity

In other news, CEO Stephen M. Mason sold 41,575 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the transaction, the chief executive officer owned 26,085 shares of the company’s stock, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider owned 15,431 shares of the company’s stock, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Company insiders own 0.12% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.